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Atlanta Housing Celebrates Groundbreaking of Englewood Senior

Atlanta Housing Celebrates Groundbreaking of Englewood Senior

PR Newswire

New affordable housing project will house independent seniors aged 62 and older

ATLANTA, May 23, 2024 /PRNewswire/ -- Atlanta Housing (AH) and The Benoit Group today celebrated the groundbreaking of Englewood Senior. Joined by partners, including the City of Atlanta, Invest Atlanta, Georgia Department of Community Affairs, Berkadia Commercial Mortgage LLC, Atlanta BeltLine, the U.S Department of Housing and Urban Development, Atlanta City Council, Neighborhood Planning Unit Y, Georgia Department of Community Affairs, JM Wilkerson, and Engineering Design Technologies, the groundbreaking officially marked the start of construction on the new independent senior living project. Englewood Senior will house seniors aged 62 and older and will be located in the Chosewood Park neighborhood, in proximity to Zoo Atlanta, Grant Park, and the Atlanta BeltLine. The affordable housing project will have 160 units for residents earning at or below 60 percent of the HUD Area Median Income (AMI), all of which will include HomeFlex vouchers provided by Atlanta Housing.

"Atlanta Housing is honored to support the development of Englewood Senior with an investment of more than $3 million and a comprehensive plan for transformative progress that will uplift the people of this community," said Terri M. Lee, President and Chief Executive Officer of Atlanta Housing. "This affordable housing project will make a significant difference in the lives of our senior and legacy residents by giving them the opportunity to live in a community that will offer them best-in-class amenities and an improved quality of life. Englewood Senior is another demonstration of our commitment to providing safe, quality, affordable housing options and ensuring that Atlanta remains a city for everyone."

Speakers at the groundbreaking included Mayor Andre Dickens, City of Atlanta; Terri Lee, President and Chief Executive Officer, Atlanta Housing; Eddy Benoit, Jr., President and CEO, The Benoit Group; Larry Stewart, Board Chairman, Atlanta Housing; Dr. Eloisa Klementich, President and Chief Executive Officer, Invest Atlanta; Carolyn Whatley, Managing Director, Berkadia Commercial Mortgage, LLC; Ruben Brooks, Chief Operating Officer, Atlanta BeltLine; Jennifer Riley Collins, Atlanta Regional Administrator, U.S. Department of Housing & Urban Development; Jason Winston, District #1 Council Member, City of Atlanta; Nichole Weiswasser, Chairperson, Neighborhood Planning Unit Y; and Phillip Gillman, Deputy Commissioner, Georgia Department of Community Affairs.

Mayor Dickens said, "Our legacy community is the heartbeat of this city, and helping them not only stay in their homes but also find safe, quality, and affordable housing, will always be a priority of my administration and the work we do. Today's groundbreaking for the Englewood Senior housing is just one more way to show our esteemed legacy residents that we're working on their behalf."

Once completed, this senior development complex will include community amenities such as a centralized outdoor courtyard, computer room, fitness center, a multi-purpose community room, and onsite laundry. Additionally, plans include over 15,000 square feet of retail space for the benefit of the building and community. The $72 million project is financed with 4% Tax-Exempt Bonds, HUD 221(d)4, BeltLine TAD and other federal funds along with 100 percent of the units having Atlanta Housing Project-Based Voucher Rental Assistance (PBRA).  In addition, to cover the $30 million cost to construct the infrastructure for the entire 30-acre site, Atlanta Housing provided $15 million and the City of Atlanta used $15 million in Housing Opportunity Bond funds.

"Partnering with Atlanta Housing, a leader in public-private partnerships and a dedicated force in community revitalization, perfectly aligns with our company's mission," stated Eddy Benoit, President and CEO of The Benoit Group, based in Atlanta. "Although this Englewood development is a mixed-use master planned community, we are excited to break ground on the Englewood Senior building as the first affordable housing complex for the elderly on the Atlanta BeltLine."

Originally built in 1971 as Englewood Manor, on approximately 30 acres, the site contained 324 public housing units before the residents were relocated in 2007 due to severe physical and social distress, leading to the property's demolition in 2009 with HUD approval.

Once all phases of the new Englewood development are complete, the community will include an estimated 900 units, with roughly 76 percent of those earmarked as affordable for people with annual earnings at or below 80 percent HUD AMI or less. Ultimately, over $300 million will be invested from public, private, and philanthropic sources.

ABOUT ATLANTA HOUSING 

President and Chief Executive Officer Terri M. Lee leads The Housing Authority of the City of Atlanta, Georgia (AH), the largest housing authority in Georgia and one of the largest in the nation. One of 139 Moving to Work (MTW) public housing authorities in America, AH is an industry leader in providing and facilitating affordable housing resources for nearly 27,000 low-income households comprised of approximately 45,000 people, including AH-owned residential communities, tenant-based vouchers, supportive housing, as well as down payment assistance, where innovation leads the approach to making the dream of homeownership attainable for more Atlantans. Programs are funded and regulated by the U.S. Department of Housing and Urban Development.

Visit AH at atlantahousing.org or follow us on social media @housingatlanta.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/atlanta-housing-celebrates-groundbreaking-of-englewood-senior-302154583.html

SOURCE Atlanta Housing



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